Financial reports
Financial Statements
are very important as it accurately reflects business performance and financial
position of the company. Financial Statements
are very important as it accurately reflects business performance and financial
position of the company.
Additionally, it helps all stakeholders including management, investors, financial analyst etc to evaluate and take suitable economic decisions by comparing past and current performance and therefore predict future performance and growth of the company.
Details
Companies that are exempt from statutory audits need to prepare financial statements, which must provide notes, reports of the board of directors and statements of directors and must comply with the financial reporting standards.
Financial statements shall be made by professional staff. Although the reports are not audited, the reports are rigorous, but sufficient to provide tax return information.
The cost of preparing consolidated financial statements is lower than the cost of audit services.
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